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LUKOIL´s and Gazprom´s JV acquired license for Vaneyvisskoye and Layavozhskoye fields

The companies are bound by the 2014 – 2024 general agreement, under which LUKOIL supplies gas into Gazprom’s gas transportation system

LUKOIL´s and Gazprom´s JV acquired license for Vaneyvisskoye and Layavozhskoye fields

St. Petersburg, December 22 - Neftegaz.RU. LUKOIL´s President Vagit Alekperov and Gazprom´s Chairman of the Management Committee Alexey Miller had a business meeting today.
The parties discussed relevant cooperation issues.
Among other things, they touched upon current situation and development prospects for Vaneyvisskoye and Layavozhskoye fields in the Nenets Autonomous District.

In 2021, the parties created a joint venture to carry out the project – Layavozhneftegaz (LVNG).
Gazprom has transferred to LVNG its subsoil use license for the area that includes the Vaneyvisskoye and Layavozhskoye fields. ​

During the next stage, LVNG will commence the design works for the development and pre-development of these fields.
To that end, the company will use the data obtained through the 3D seismic surveys that were fully completed in 2021.

Relations between LUKOIL and Gazprom are guided by the General Agreement on Strategic Partnership for 2014-2024.
It provides for LUKOIL supplying natural gas to the Gazprom transportation system, among other things.

The Vaneyvisskoye and Layavozhskoye fields are situated in the Nenets Autonomous District, eastward of the city of Naryan-Mar.
The fields have cumulative recoverable resources of 27.4 million tonnes of liquid hydrocarbons and 225.3 billion m3 of natural gas.

In 2020, Gazprom and LUKOIL signed a Master Agreement on the Terms of the Development of Vaneyvisskoye and Layavozhskoye fields.
The document determined the course for creating a joint venture on a parity basis.

In 2021, the companies created LVNG, the joint venture of their subsidiaries: LUKOIL-Komi and Gazprom Dobycha Krasnodar.

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